Man-Portable Anti-Armor Weapons Market on Track for Strong Growth, Estimated to Grow at 6.1% CAGR Through 2029

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What Is the Expected CAGR for the Man-Portable Anti-Armor Weapons Market Through 2025?
The market size for man-portable anti-armor weapons has seen robust growth in the recent past. The projections suggest an increase from $5.91 billion in 2024 to $6.27 billion in 2025, marking a compound annual growth rate (CAGR) of 6.2%. Factors like enhanced precision and lethality, adaptation to threats, geopolitical dynamics, demand, cost-efficiency and affordability, as well as versatility and multi-role capability, contributed to the growth during the historic period.

What's the Projected Size of the Global Man-Portable Anti-Armor Weapons Market by 2029?
The market size for man-portable anti-armor weapons is predicted to witness a robust increase in the future. By 2029, it is expected to reach $7.94 billion with a compound annual growth rate (CAGR) of 6.1%. Factors such as miniaturization and portability, inclusion of smart and network-enabled systems, multi-functionality, an emphasis on lethal precision and cost-effectiveness are the driving forces for growth in the forecast period. Trending factors for the same period include regulatory and geopolitical factors, quest for cost-efficiency, incorporation of intelligent and network-focused technologies, adapting to contemporary threats and prioritizing precision and lethality.

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Top Growth Drivers in the Man-Portable Anti-Armor Weapons Industry: What's Accelerating the Market?
The surge in defense budgets is anticipated to accelerate the expansion of the man-portable anti-armor weapons market. The defense budget constitutes a segment of the federal budget dedicated to defense, covering personnel, training and medical costs, as well as the sustainment and procurement of weaponry and equipment. The escalation in defense budgets facilitates the adoption of expensive yet essential missile defense system technologies. For example, a report produced by the Stockholm International Peace Research Institute (SIPRI), a research center based in Sweden, revealed that global military expenditure rose to $2.443 trillion in 2023, exhibiting a 6.8% real-term increase in relation to 2022, as of April 2024. Thus, the upturn in defense budgets is fueling the growth of the man-portable anti-armor weapons market.

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What Trends Will Shape the Man-Portable Anti-Armor Weapons Market Through 2029 and Beyond?
The man-portable anti-armor weapons market is dominated by major corporations that emphasize product innovation, such as the portable missile system, to consolidate their market presence. Portable missile systems, also known as man-portable air-defense weapons, are utilized by individuals or small groups to target aircraft, helicopters, or ground vehicles. These systems are highly mobile and can be rapidly deployed, making them versatile in diverse combat situations. For instance, in August 2024, the India-based Defence Research and Development Organization announced the successful test-firing of the domestically produced Man-Portable Anti-Tank Guided Missile (MP-ATGM). The system, weighing 14.5 kg, plus an extra 14.25 kg for the command launch unit (CLU), is extremely portable. It carries a HEAT warhead for eliminating tanks and armored vehicles, with an operational range spanning 200 meters to 4 kilometers. The missile incorporates an advanced IIR sensor and avionics for accurate top-attack targeting. Its cylindrical design, measuring 130 cm long and 12 cm in diameter, can be launched from a compact tripod and tube.

What Are the Main Segments in the Man-Portable Anti-Armor Weapons Market?
The man-portable anti-armor weapons market covered in this report is segmented -

1) By Type: Anti-Aircraft Missiles, Rocket Propelled Grenades, Anti-Tank Rifles, Recoilless Rifle
2) By Technology: Guided Weapons, Unguided Weapons
3) By Application: Homeland Security, Defense

Subsegments:
1) By Anti-Aircraft Missiles: Short-Range Air Defense Missiles, Man-Portable Air Defense Systems (MANPADS)
2) By Rocket Propelled Grenades (RPGs): Single-Use RPGs, Multi-Use RPGs
3) By Anti-Tank Rifles: Traditional Anti-Tank Rifles, Modern Anti-Material Rifles
4) By Recoilless Rifles: Lightweight Recoilless Rifles, Heavyweight Recoilless Rifles

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Which Top Companies are Driving Growth in the Man-Portable Anti-Armor Weapons Market?
Major companies operating in the man-portable anti-armor weapons market include Lockheed Martin Corporation, Bharat Dynamics Limited, General Dynamics Corporation, Saab AB, Raytheon Company, Thales Group, BAE Systems plc, MBDA Holdings SAS, Konstruktorskoye Byuro Mashynostroyeniya (KBM), Nammo AS, Rostec State Corporation, Elbit Systems Ltd., Rafael Advanced Defense Systems Ltd., Denel Dynamics, Northrop Grumman, HDT Global Inc., FLIR Systems Inc., Argon Electronics Ltd., Chemring Group plc, Rheinmetall AG, Jadara Equipment & Defence Systems, Roketsan Roket Sanayii ve Ticaret A.S., Luch Design Bureau

Which Regions Will Dominate the Man-Portable Anti-Armor Weapons Market Through 2029?
North America was the largest region in the man-portable anti-armor weapons market in 2024. Asia-Pacific is expected to be the fastest-growing region in the man-portable anti-armor weapons market report during the forecast period. The regions covered in the man-portable anti-armor weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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